CURRENCY SNAPSHOT AT 0700 AEST:

While in the US stocks have climbed, with the S&P 500 and the Nasdaq hitting their highest levels in two weeks, as strong US jobs growth blunted the impact of an escalating US-China trade dispute.

Nonfarm payrolls increased by 213,000 jobs last month, the US Labor Department said on Friday, topping expectations of 195,000, while the unemployment rate rose from an 18-year low to 4 per cent and average hourly earnings rose 0.2 per cent.

The moderate wage growth allayed fears of a strong build-up in inflation pressures and boosted optimism that the Federal Reserve would stay on a path of gradual interest rate increases.

"This really is the best outcome we could have hoped for, more jobs without a whole lot of wage pressures," said Kim Forrest, senior portfolio manager at Fort Pitt Capital Group in Pittsburgh.